World Fuel Services and Neste Sign Supply Agreement for Sustainable Aviation Fuel (SAF)

NEWS SUMMARY

• World Fuel Services (World Fuel) and Neste have signed an agreement to expand the supply of Sustainable Aviation Fuel (SAF).
• This agreement opens up a greater supply of SAF for World Fuel to distribute to customers throughout Europe.
• Currently, 13 airports are supplied with SAF by World Fuel, which will increase to over 40 with this agreement.
• In 2023, World Fuel estimates delivering more than 20 times the volume delivered in 2022.

HOUSTON, May 22, 2023 /PRNewswire/ -- World Fuel Services (World Fuel) and Neste today announce their recently signed agreement for Sustainable Aviation Fuel (SAF), further strengthening the relationship between these two global companies. This agreement provides World Fuel with greater access to the currently limited supply of SAF available for European commercial, business, and general aviation customers. Increasing the accessibility of renewable fuels like SAF worldwide is a key tenet of World Fuel's mission to enable its customers and partners to decarbonize their operations.

The new supply agreement extends the already strong collaboration on SAF, which brings together Neste's well-established production capabilities with World Fuel's global distribution network and large customer base. With greater committed volumes of SAF from Neste under the new agreement, World Fuel has increased the number of European airports they can supply with SAF from 13 to over 40. This collaboration also paves the way for expanding the accessibility of SAF at more than 100 airport locations presently in World Fuel's European network.

"Neste is fully committed to supporting the aviation industry to achieve its net zero carbon emissions goal. Working closely with partners like World Fuel Services is crucial as it will help us accelerate the supply and usage of sustainable aviation fuel across World Fuel's extensive global network of airports. We are excited to expand our collaboration with World Fuel as we increase our annual SAF production capability to 1.5 million tons per annum by the end of 2023," said Alexander Kueper, vice president EMEA, from the Renewable Aviation business unit at Neste.